Rebate to be allowed in computing income-tax
[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]
Section 155(1) of Income Tax Act 2025
(1) In computing income-tax on the total income of an assessee with which he is chargeable for any tax year, there shall be allowed from income-tax (as computed before allowing the deductions under this Chapter), subject to the provisions of section 156, the deductions specified therein.
Section 155(2) of Income Tax Act 2025
(2) The deduction under section 156, shall not, in any case, exceed income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any tax year.